Published: 2025-04-16T07:21:46.000Z
Chart AUD/NZD Update: Under pressure, focus return to 1.0700 low
Technical Analyst
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Choppy trade see pressure returning to the downside after bounce attempt was checked at the 1.0900/10 resistance
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0933/35 | ** | Dec low, 50% | S1 | 1.0700 | ** | 7 Apr low, congestion | |
| R3 | 1.0910 | * | 21 Mar low | S2 | 1.0670 | * | 2022 trendline | |
| R2 | 1.0850 | * | congestion | S3 | 1.0615 | * | Oct 2023 low | |
| R1 | 1.0800 | * | congestion | S4 | 1.0570 | ** | Feb 2024 year low |
Asterisk denotes strength of level
07:15 GMT - Choppy trade see pressure returning to the downside after bounce attempt was checked at the 1.0900/10 resistance. Rejection from the latter through the 1.0800 level return focus to the 1.0700 low then the trendline from the 2022 year low at 1.0670. 1.1030 high. Choppy trade expected to give way to renewed selling pressure later to retest the 1.0700 low. Below this will see scope to the trendline from the December 2022 year low at 1.0670. Break here will extend losses from the 2024 year high at 1.1180 and see room to the 1.0615 and 1.0570, October 2023 low and 2024 year low.